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Originally Posted by djh
Kingsgate Mall is owned by the Vancouver School Board, IIRC. Must be one of the most valuable and underdeveloped lots in the city.
It would be astute of the owners to engage developers now that the SkyTrain will stop right nearby. I wouldn't be surprised if they already have plans for a completely new development already drawn up and ready for submission. I'm not starting a rumour here. Just the number of years these things take, they surely have thought about how SkyTrain will boost the foot traffic and land value in the area, so how best could they benefit long-term from the changes.
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Don't count on it. Developers Beedie have a 99 year lease that they obtained in 2006. They talked to the School Board about redevelopment, but different iterations of the Board haven't been willing to settle on a redevelopment. In 2016 the Liberal provincial government tried to get the Board to sell it. They wouldn't, and were then all removed from their posts, and an administrator was put in charge for a while. In 2019 a Trustee on the Board suggested that there should be a redevelopment with one tower used as rental housing for VSB staff, but obviously Beedie would have to be on board, or willing to give up their lease. It's possible that behind the scenes there are negotiations, and a proposal for a leasehold project might emerge. It's equally possible that nothing's happening yet. At least the Mount Pleasant Plan contemplated redevelopment, so the anti-tower element of the population have far less they can legitimately object to - not that it'll stop some of them.